SCB scales up CVC fund to $100m

May 17, 2018 • Robert Lavine

Siam Commercial Bank has committed another $50m to its SCB Digital Ventures unit, which will move away from fund-of-fund deals to more direct investments.

Thailand-based financial services firm Siam Commercial Bank (SCB) doubled the size of its strategic investment fund, SCB Digital Ventures, to $100m yesterday.

The move made SCB Digital Ventures the largest venture capital vehicle in Thailand, according to the bank, and was made as part of a wider strategy away from contributions to VC funds toward more direct investments in startups.

Founded in 2016, SCB Digital Ventures targets subsectors such as data analytics, artificial intelligence, cybersecurity and blockchain technology with…

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